SpaceX and its investors agreed to buy shares of the space company for up to $1.25 billion; As part of the deal, the rocket and satellite maker will be valued at $350 billion, according to an internal letter seen by Bloomberg. The data was confirmed by informed sources at the agency.
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The price per share is $185, significantly higher than the $112 price set at the previous valuation less than three months ago, the note said. According to the document, SpaceX itself offered to buy up to $500 million in common stock.
As part of the public offering, SpaceX employees and some of the early shareholders of Elon Musk’s company can sell their shares. At a valuation of $350 billion, SpaceX would be on par with the world’s largest public companies, such as Bank of America and LVMH, whose market capitalizations are $360.9 billion and $321.2 billion, respectively, according to Companiesmarketcap.
In June of this year, the satellite and rocket manufacturer was valued at $210 billion in a similar public offering. Bloomberg highlights that the new capitalization will make SpaceX the most expensive private startup in the world.
Musk’s fortune, according to the Bloomberg Billionaires Index, is estimated at $384 billion. The billionaire’s closest competitor, Amazon CEO Jeff Bezos, is $140 billion poorer.
Author:
Mikhail Zelenin
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
